Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: Kalshi against Aevo+0.159%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$870.874% of the position

Long on Aevo Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.209%−$21 on $10k

Price spread, last 3 days (all we have)−0.567%−$57 · spread now +0.159%, 7d avg −0.036%

Together, before fees−0.776%−$78 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.195% dearer against Aevo than usual: you sell high and buy low (spread +0.159% now, against its 7-day average of −0.036%): +$19 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo NEAR-PERP	4.2682	0.0104	pay 0.0013% / 1h	8m 07s	$206K	$62K	3x
Short	Kalshi KXNEARPERP	4.2750	0	get 0.0000% / 8h	5h 08m	$477K	$18.2M	2.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AevobpFee KalshibpOrdersPrice spread, now +0.159%Rate

Funding earned: −$21.84
Price spread: +0.159% → −0.036%: $19.49
Slippage, 4 orders: −$61.37
Fee Aevo: 8 bp × 2 orders: −$16
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$89.73
Costs to cover: 0.874%
Break-even: never at this rate

Slippage from Aevo: live order book, 11 min ago; Kalshi: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aevo live order book, 11 min ago	21.34 bp	32.5 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 1 min ago	5.61 bp	14.4 bp −$14	22.4 bp −$224	doesn't fit	doesn't fit

NEAR on 45 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya NEARRUSDPERP	−0.0171%	1h	4.2774	+0.216%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.2705	+0.054%	$2.2M	$13.1M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−2.980%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2787	+0.245%	$111K	$59K	10x	as long as short
Kalshi KXNEARPERPshort	0.0000%	8h	4.2750	+0.159%	$477K	$18.2M	2.2x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2700	+0.041%	$207K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0047%	1h	4.2695	+0.030%	$7.7M	$36.2M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2740	+0.136%	$105K	$489K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2796	+0.266%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2791	+0.256%	$3.0M	$5.6M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NEAR	+0.0100%	1h	4.2811	+0.301%	$398K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2676	−0.013%	$246.5M	$1.06B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2640	−0.099%	$219.1M	$420.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2630	−0.122%	$59.9M	$281.4M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2760	+0.182%	$200K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2317	−0.855%	$241K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2669	−0.031%	$30.0M	$59.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2670	−0.028%	$82.8M	$144.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2680	−0.005%	$56.0M	$43.3M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2660	−0.052%	$70.7M	$125.5M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2660	−0.052%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2299	−0.897%	$7.9M	$17.8M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2295	−0.908%	$247K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2168	−1.205%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2150	−1.247%	$176K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2800	+0.276%	$230K	$3.2M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2720	+0.089%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2730	+0.112%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2660	−0.052%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2690	+0.018%	$3.9M	$8.1M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2676	−0.014%	$4.0M	$14.8M	25x	as long as short
Aevo NEAR-PERPlong	+0.0104%	1h	4.2682	long leg	$206K	$62K	3x
01 Exchange NEARUSD	+0.0136%	1h	4.2809	+0.297%	$13K	$7K	10x	as long as short
Lighter RH NEAR	+0.0160%	1h	4.2726	+0.103%	$1.5M	$7.0M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2660	−0.052%	$12.6M	$32.3M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0312%	1h	4.2715	+0.077%	$1.9M	$2.3M	25x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.2785	+0.240%	$412K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0390% / S −0.0335%	1h	4.2706	+0.055%	$292K	—	100x	as long as short
Nado NEAR-PERP	+0.0467%	1h	4.2794	+0.263%	$1.9M	$3.5M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.2316	−0.858%	$1.8M	$2.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0552%	1h	4.2714	+0.075%	$1.3M	$5.5M	20x	as long as short
Hyperliquid NEAR	+0.0599%	1h	4.2765	+0.194%	$367.3M	$295.0M	10x	as long as short
HTX NEAR-USDT	+0.0930%	8h	4.2740	+0.136%	$462K	$3.6M	75x	as long as short
Aftermath Perps NEARUSD	+0.0980%	1h	4.2366	−0.740%	$5K	$11K	10x	as long as short
Lighter NEAR	+0.0992%	1h	4.2759	+0.179%	$16.4M	$23.8M	15x	as long as short